Morgan Stanley Lowers Etsy (NASDAQ:ETSY) Price Target to $75.00

Etsy (NASDAQ:ETSY – Get Rating) had its price target dropped by research analysts at Morgan Stanley from $76.00 to $75.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the specialty retailer’s stock. Morgan Stanley’s target price suggests a potential downside of 41.85% from the stock’s current price.

Several other analysts also recently commented on the company. Citigroup began coverage on Etsy in a research note on Tuesday, December 13th. They issued a “buy” rating and a $161.00 target price for the company. UBS Group raised their target price on Etsy from $83.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, October 24th. Deutsche Bank Aktiengesellschaft raised their target price on Etsy from $85.00 to $95.00 in a research note on Thursday, November 3rd. Guggenheim raised their target price on Etsy from $105.00 to $125.00 in a research note on Wednesday, October 5th. Finally, BTIG Research raised their target price on Etsy from $119.00 to $137.00 in a research note on Thursday, December 1st. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.39.

Etsy Stock Performance

Shares of Etsy stock opened at $128.97 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 4.10. The business has a 50-day moving average price of $125.71 and a two-hundred day moving average price of $110.14. Etsy has a 1-year low of $67.01 and a 1-year high of $172.36. The company has a market cap of $16.21 billion, a P/E ratio of -23.88, a PEG ratio of 5.80 and a beta of 1.80.

Etsy (NASDAQ:ETSY – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The specialty retailer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.21. The firm had revenue of $594.47 million during the quarter, compared to the consensus estimate of $560.19 million. Etsy had a positive return on equity of 123.01% and a negative net margin of 25.94%. As a group, analysts anticipate that Etsy will post -5.32 EPS for the current year.

Insider Buying and Selling

In related news, CMO Ryan M. Scott sold 1,237 shares of Etsy stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $133.00, for a total value of $164,521.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Nicholas Daniel sold 1,000 shares of Etsy stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total value of $135,180.00. Following the sale, the insider now owns 3,309 shares of the company’s stock, valued at approximately $447,310.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Ryan M. Scott sold 1,237 shares of Etsy stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $133.00, for a total transaction of $164,521.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 238,382 shares of company stock valued at $27,362,911. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Etsy

Hedge funds have recently modified their holdings of the stock. General Partner Inc. bought a new stake in shares of Etsy in the 4th quarter worth approximately $29,000. Optimum Investment Advisors grew its stake in Etsy by 400.0% in the 3rd quarter. Optimum Investment Advisors now owns 250 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 200 shares in the last quarter. GoalVest Advisory LLC purchased a new position in Etsy in the 4th quarter valued at approximately $30,000. Trustcore Financial Services LLC grew its stake in Etsy by 166.3% in the 3rd quarter. Trustcore Financial Services LLC now owns 269 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Etsy in the 3rd quarter valued at approximately $34,000. Institutional investors own 95.46% of the company’s stock.

Etsy Company Profile

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Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.